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TG Therapeutics
(NASDAQ:TGTX)
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Rating:66Neutral
Price Target:
$59.00
▲(6.46% Upside)
Action:Reiterated
Date:08/22/26
The score is driven primarily by strong reported operating performance and raised revenue guidance, supported by an improving balance sheet. Offsetting these positives is the biggest risk in the dataset: weak cash conversion (negative operating and free cash flow despite high reported profits), which materially reduces confidence in earnings quality. Technically, the stock remains in an uptrend versus moving averages, though momentum indicators are mixed, and valuation appears reasonable but without dividend support.
Positive Factors
BRIUMVI Commercial Growth
Rapid BRIUMVI adoption, rising patient starts and expanding physician use are establishing a stronger commercial base. The higher guidance and planned 2027 $1B+ U.S. revenue year indicate meaningful franchise momentum beyond a single quarter.
Negative Factors
Weak Cash Conversion
Persistent negative operating and free cash flow despite reported profitability raises questions about earnings quality, working-capital timing and cash realization. Continued weak conversion could limit internally funded investment and make reported income less durable.
Read all positive and negative factors
Positive Factors
Negative Factors
BRIUMVI Commercial Growth
Rapid BRIUMVI adoption, rising patient starts and expanding physician use are establishing a stronger commercial base. The higher guidance and planned 2027 $1B+ U.S. revenue year indicate meaningful franchise momentum beyond a single quarter.
Read all positive factors
TG Therapeutics (TGTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.53B
Dividend YieldN/A
Average Volume (3M)2.53M
Price to Earnings (P/E)17.7
Beta (1Y)0.39
Revenue Growth76.08%
EPS Growth634.54%
CountryUS
Employees399
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)3.04
Shares Outstanding153,069,050
10 Day Avg. Volume1,944,033
30 Day Avg. Volume2,529,227
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)6.64
Price to Sales (P/S)6.98
P/FCF Ratio-172.18
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$65.14Price Target Upside17.54% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)1.1
Revenue Forecast (FY)$955.68M
TG Therapeutics Business Overview & Revenue Model
Company Description
Based in New York City and established in 1993, TG Therapeutics, Inc. is a biopharmaceutical company that has advanced to the commercial stage. Its core mission revolves around the acquisition, advancement, and marketing of novel therapeutic solut...
How the Company Makes Money
TG Therapeutics primarily makes money by selling its FDA-approved product BRIUMVI (ublituximab-xiiy). Revenue is generated through product sales to specialty pharmacies, distributors, or other healthcare-channel customers, which in turn supply inf...
TG Therapeutics Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call communicated strong commercial momentum, robust Q2 financial results, multiple positive clinical/readout milestones (ENHANCE Phase III positive; subcutaneous program advancing), growing real-world evidence, and a healthy cash position — all of which underpin upgraded guidance and an optimistic multi-year franchise opportunity. Near-term headwinds include sizable manufacturing-related charges expensed now (with potential future margin tailwinds if programs succeed), seasonality/timing risk concentrated in Q4, uncertainty around subcutaneous pricing/reimbursement, and ongoing competitive dynamics. On balance, the positive operational and clinical developments and the guidance raise materially outweigh the near-term expenses and execution risks.Positive Updates
Strong Revenue Growth and Raised Guidance
Q2 U.S. BRIUMVI net product revenue ~ $228M (Q/Q ~ +17%, Y/Y > +64%); total revenue for the quarter ~$240M. Company raised full-year U.S. BRIUMVI net revenue guidance to $890M–$905M and now expects ~ $950M total global revenue for 2026. Management expects to exit 2026 with quarterly U.S. net revenue exceeding $250M, implying a > $1B annualized run rate and positioning for a potential first $1B+ U.S. BRIUMVI revenue year in 2027.
Negative Updates
Manufacturing-Related Charges Reduced Reported Profitability
Q2 included ~ $55M of charges tied to subcutaneous and secondary-source manufacturing (expensed through R&D), contributing to total OpEx of ~ $150M. Company expects ~ $100M of these manufacturing-related expenses for 2026. These one-time/near-term charges depress reported operating and net income despite favorable adjusted results.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth and Raised Guidance
Q2 U.S. BRIUMVI net product revenue ~ $228M (Q/Q ~ +17%, Y/Y > +64%); total revenue for the quarter ~$240M. Company raised full-year U.S. BRIUMVI net revenue guidance to $890M–$905M and now expects ~ $950M total global revenue for 2026. Management expects to exit 2026 with quarterly U.S. net revenue exceeding $250M, implying a > $1B annualized run rate and positioning for a potential first $1B+ U.S. BRIUMVI revenue year in 2027.
Read all positive updates
Company Guidance
TG Therapeutics raised 2026 U.S. BRIUMVI net revenue guidance to $890–905M and now expects roughly $950M in total global revenue (after prior upward revisions of ~+$75M YTD); Q2 U.S. net product revenue was ~$228M (Q/Q +17%, Y/Y +64%) and total Q2 revenue was ~$240M, with U.S. gross margin ≈87% and total gross margin 83%; through H1 U.S. net revenue was ≈$423M and total revenue ≈$445M. For the year management expects OpEx (R&D+SG&A, excl. stock‑based comp) of $350–400M plus ≈$100M of manufacturing‑related expenses (Q2 OpEx ≈$150M including ≈$55M of those charges; underlying OpEx excl. those charges ≈$95M); Q2 operating income was $21.7M (≈$76M excluding the manufacturing charges) and net income was $7.8M or $0.05/diluted share (≈$62M excl. charges), and cash & investments totaled ≈$612M at quarter end. Management expects Q4 to drive second‑half growth, to exit 2026 with quarterly U.S. net revenue >$250M (a >$1B annualized run‑rate) and target a first $1B+ U.S. BRIUMVI year in 2027; key upcoming milestones include potential mid‑2027 availability of the single 600 mg ENHANCE initiation and a subcutaneous Phase III topline readout around year‑end/early next year.TG Therapeutics Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 799.54M | 616.29M | 329.00M | 233.66M | 2.79M | 6.69M |
| Gross Profit | 658.53M | 515.57M | 290.52M | 219.53M | 2.52M | 5.90M |
| EBITDA | 134.17M | 134.36M | 49.90M | 26.10M | -213.11M | -341.97M |
| Net Income | 441.49M | 447.18M | 23.38M | 12.67M | -223.81M | -348.10M |
Balance Sheet | ||||||
| Total Assets | 1.64B | 1.06B | 577.69M | 329.59M | 193.57M | 379.63M |
| Cash, Cash Equivalents and Short-Term Investments | 552.25M | 141.97M | 311.00M | 217.51M | 161.68M | 314.76M |
| Total Debt | 754.44M | 260.73M | 253.72M | 110.80M | 83.06M | 79.05M |
| Total Liabilities | 1.04B | 415.23M | 355.33M | 169.09M | 134.99M | 142.48M |
| Stockholders Equity | 604.08M | 648.02M | 222.36M | 160.50M | 58.59M | 237.15M |
Cash Flow | ||||||
| Free Cash Flow | -560.00K | -24.99M | -40.56M | -31.41M | -176.18M | -296.04M |
| Operating Cash Flow | -18.00K | -24.77M | -40.52M | -31.41M | -176.17M | -295.63M |
| Investing Cash Flow | 12.03M | 13.80M | -1.04M | -50.65M | -20.01M | -332.00K |
| Financing Cash Flow | 704.56M | -89.73M | 128.53M | 72.70M | -391.00K | 41.42M |
TG Therapeutics Technical Analysis
Positive
55.42
Price Trends
53.37
Positive
46.36
Positive
38.39
Positive
Market Momentum
0.81
Negative
54.77
Neutral
68.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TGTX, the sentiment is Positive. The current price of 55.42 is above the 20-day moving average (MA) of 51.08, above the 50-day MA of 53.37, and above the 200-day MA of 38.39, indicating a bullish trend. The MACD of 0.81 indicates Negative momentum. The RSI at 54.77 is Neutral, neither overbought nor oversold. The STOCH value of 68.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TGTX.
TG Therapeutics Risk Analysis
TG Therapeutics disclosed 74 risk factors in its most recent earnings report. TG Therapeutics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TG Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $3.13B | 107.70 | 15.05% | ― | 76.11% | ― | |
70 Outperform | $9.67B | 118.49 | 12.03% | ― | 34.81% | 44.59% | |
66 Neutral | $8.53B | 17.71 | 72.30% | ― | 76.08% | 634.54% | |
60 Neutral | $9.05B | -14.61 | -69.59% | ― | ― | 1.28% | |
59 Neutral | $10.00B | -36.35 | -21.50% | ― | 134.84% | 6.73% | |
52 Neutral | $3.97B | -39.76 | -8.70% | ― | 59.59% | 71.96% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
TGTX
TG Therapeutics
53.93
24.60
83.87%
PTGX
Protagonist Therapeutics
144.33
85.28
144.42%
IMVT
Immunovant
41.20
26.51
180.46%
ARQT
Arcutis Biotherapeutics
23.78
8.26
53.22%
LEGN
Legend Biotech
19.88
-14.85
-42.76%
KYMR
Kymera Therapeutics
118.15
76.95
186.77%
TG Therapeutics Corporate Events
Executive/Board ChangesShareholder Meetings
TG Therapeutics Shareholders Reject Executive Compensation at Meeting
Negative
Jun 12, 2026
At its 2026 Annual Meeting held online on June 11, 2026, TG Therapeutics reported that stockholders representing 73.81% of outstanding shares were present, establishing a quorum, and elected six directors to serve until the 2027 annual meeting. Sh...
Business Operations and StrategyProduct-Related Announcements
TG Therapeutics reports positive data for subcutaneous BRIUMVI
Positive
Jun 3, 2026
On June 3, 2026, TG Therapeutics reported positive Phase 1 data for a high-concentration, low-volume subcutaneous formulation of BRIUMVI in patients with relapsing multiple sclerosis, showing favorable pharmacokinetics, robust B-cell depletion and...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
TG Therapeutics reports positive Phase 3 ENHANCE trial results
Positive
May 27, 2026
On May 27, 2026, TG Therapeutics announced positive topline results from its Phase 3 ENHANCE trial evaluating a consolidated single 600 mg Day 1 infusion regimen for initiating BRIUMVI in adults with relapsing forms of multiple sclerosis. The stud...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.